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Nady [450]
3 years ago
14

Which of the following statements is NOT true concerning the Other Dependent Credit

Business
2 answers:
omeli [17]3 years ago
8 0

Answer:

The incorrect statement is letter "B": Residents of Canada meet the definition as a qualifying person.

Explanation:

Credit for Other Dependent is a tax credit taxpayers can claim for every qualifying dependent that is not considered as a Child Tax Credit (17 years or older and elderly parents). The taxpayer can get up to $500 nonrefundable credit for each of those qualifying dependents. Residents of Canada and Mexico do not meet the definition of qualifying dependent.

Inga [223]3 years ago
4 0

Answer:

B

Explanation:

Residents of Canada meet the definition as a qualifying person.

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Kaspar Corporation makes a commercial-grade cooking griddle. The following information is available for Kaspar Corporation's ant
Leto [7]

Answer:

Total cost per unit is $77

Explanation:

Fixed manufacturing overhead per unit = Total fixed manufacturing overhead ÷ Number of units

= $478,800 ÷ 34,200 = $14 per unit

Fixed selling and administrative expenses per unit = Total Fixed selling and administrative expenses ÷ Number of units

= $171,000 ÷ 34,200 = $5 per unit.

Total cost per unit = Direct material + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead + Variable selling expenses + Fixed selling expenses

Total cost per unit = $15 + $5 + $11 + $14 + $5 + $5 = $55 per unit.

Markup = 40% of total cost = $55 × 40% = $22

Therefore, total selling price per unit = Cost per unit + Markup

= $55 + $22 = $77 per unit.

7 0
3 years ago
If it costs $100000 to put on an event for four weeks (28 consecutive nights) how much revenue per night is needed to make $2000
12345 [234]

Answer:

the answer would 4285.7142 per night

8 0
3 years ago
Read 2 more answers
Robert is the sole shareholder and CEO of ABC, Inc., an S corporation that is a qualified trade or business. During the current
goldenfox [79]

Answer:

A. $287,000

B. $192,050

Explanation:

a. Based on the information givenwe were told that company ABC had net income of the amount of $287,000 after deducting Robert's salary of the amount of $86,100 which therefore means that ROBERT'S QUALIFIED BUSINESS INCOME will be the amount of $287,000.

b. Calculation to determine whether your answer to part (a) would change if you determined that reasonable compensation for someone with Robert's experience and responsibilities is $181,050

Based on the information given the amount of $192,050 will be the additional amount of salary that can be deducted which is Calculated as:

=[$287,000 - ($181,050-$86,100)]

=$287,000-$94,950

=$192,050

5 0
3 years ago
Importance of multimedia in points and different fields​
dusya [7]

Answer:

had a wide application into field of science and technology.

6 0
3 years ago
A thief uses a bag of sand to replace a gold statue that sits on a weight sensitive alarmed pedestal. The bag of sand and the st
GaryK [48]

Answer:

No, the thief didn't set off the alarm. As the mass of the gold statue and the bag of sand is different, the alarm clock will start ringing once the statue is replaced with the bag of sand. Thus, the thief screwed up the operation.

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